This will be the third time the Republic of Korea will host the meeting. It hosted ADB’s 37th Annual Meeting in Jeju Island in 2004 and ADB’s 3rd Annual Meeting in Seoul in 1970.
The Annual Meeting is the largest gathering of the bank and a unique opportunity for ADB Governors to engage in focused discussion on development issues and challenges facing Asia and the Pacific. About 3,000 participants regularly join the meeting, including finance ministers, central bank governors, senior government officials, members of the private sector, representatives of international organizations and civil society organizations, youth, academia, and the media.
“2020 marks the 20th year since the Republic of Korea graduated from being a recipient of official development assistance and transitioned to a donor,” said ADB President Mr. Takehiko Nakao. “As host of next year's Annual Meeting, we are excited about the country sharing its development experiences and successes with the international community.”
For the 52nd Annual Meeting of ADB's Board of Governors this year, registration is now open. The Annual Meeting will be held from May 1st - 5th 2019 in Nadi, Fiji, marking the first time a Pacific island country will host the event. Register online at this link.
The Republic of Korea is a founding member of ADB. Before its graduation from ADB borrowing, cumulative approvals to the country totaled $6.3 billion. ADB approved loans to the Republic of Korea from 1968 to 1988 amounting to USD2.3 billion, and then provided USD4 billion in 1997 in support of reforms after the financial crisis.
The Republic of Korea has contributed USD7.4 billion in capital subscription and contributed and committed over USD643 million to ADB’s Asian Development Fund. Commercial and official cofinancing by the Republic of Korea amounted to USD4.2 billion comprising of 42 investment projects and 5 technical assistance. Furthermore, it has contributed USD122 million to 2 trust funds: (i) the e-Asia and Knowledge Partnership Fund; and (ii) the Future Carbon Fund./.